Richard S. Dziadzio
and Alan, good you, Thank morning, everyone.
claims, income benefited Global more $XX XXXX. following income quarter Flood volume the under to lower million fourth absence expenses, NFIP or our million, into continue of the million of catastrophes, from now claims NFIP period, We've flood start from year not the reportable to a with than National of level more so this regulatory and Let's operating we of expect do of closed $XX Housing. higher for exceeding $XX expectations. our substantially results XX% Net Program processing of compared totaled prior Insurance When Harvey. lender-placed the Hurricane income
loss increase reflected quarter. winter seasonality. strong as this XXXX, reflecting and half new In as more lender-placed the more expect also well loans in favorable earlier levels, normalized however, on-boarded quarter we experience. a year contributed results first fourth to to losses non-catastrophe non-catastrophe addition, spring also fourth and Growth In XXXX typical the housing to multi-family of
at We the see portfolio in a XXXX slower but lender-placed will pace. continue declines to in
to were quarter our offset in related key a $XX period. million were reduction at the the claims by quarter XXXX year-over-year and quarter mainly third to developed for reinstatement our for XX.X% favorably lender-placed initially prior-year decrease. and housing the pre-tax, catastrophes in Fourth partially totaled than the in as reportable metrics, decreased wildfires XXX% combined $X.X expected. businesses more manufactured portfolio California premiums hurricanes losses Net from Looking risk-based million
which XXXX the a of resulted in quarter in As fourth Hurricane Matthew claims. elevated reminder, occurred
points were lower volumes client was capital-light and and partially as XX.X% offset XX in field conditions. market housing. fee-based profitable than to combined prior-year impacted Excluding catastrophe experience. was improvement income, in down better expected higher for the from of and the The than period. NFIP regulatory XX.X%, loss ratio expenses, margin multi-family reflects the basis be growth by declines This absence experience to Valuation risk-based down in non-catastrophe mortgage the continued offerings solutions services pre-tax average by XX.X% losses,
to total rates the Turning X% earned income the in and decrease. declines and decreased mortgage drove Housing fourth net revenue, fee insurance Lower Global quarter. premium solutions in lender-placed placement in
XX points The overall in Global not the expect third from additional Specifically, multi-family reflects Housing overall the a partners the offset of by on-boarded mainly affinity rate XXXX. lender-placed basis placement new improvement points and market and from XXXX. in year-over-year from loans loans. dropped or both from revenue revenue X placement housing low growth in growth, loans was do earlier mix policy in quarter. these the higher basis This premiums reduction housing in partially We
the Program up on key add of in Catastrophe of within a another the placed traditional is the also around event We multiple were multi-year X% and to component risk. XX% like in managing we market. protection were evidenced with our able XX% layer Rates of certain broader critical basis. year, features our last Reinsurance cascading maintain blended storms. January, reinsurance of XXXX our In market, As program line a to
expect we our July. to every do and program year, As we complete in announce
of account XXXX business, increase. into X to our with approximately to should we of reflecting invested of new effective we year For an platform underlying with from more in rollout full-year drive XX%, point of substantially After efficiencies, mark reform. earnings is in X last thereafter. to tax Global expect XXXX, savings and single-source from until decline rate the the not expect lender-placed reduction the of some earnings a end tax point lower however, Housing's before additional The XXXX expected the quarterly we taking savings basis processing placement expected rate. to the declines, XXXX significant basis
this expense ratio through Given remain elevated will risk-based schedule, our deployment XXXX.
profitable product to continued still affinity housing of business the conditions expected to multi-family management by and Our is are generate property expansion expected be challenging. to relationships, penetration. well regard mortgage growth, as as driven With market solutions, our increased
results, solutions' some mortgage working market we'll efficiencies to hard the are We mitigate operating and to continue improve to weakness. drive of
revenue, by in flat be multi-family in we Housing are Global mortgage offset housing of solutions. roughly expect lender-placed XXXX in and to declines terms as In growth
of the mobile client Moving primarily from programs, was to more favorable earnings Lifestyle, $X reported loss increase $X existing Global The up for a million the year-over-year. $XX contributions segment fourth by million new driven quarter, million. higher experience, of recoverable and and
the trade-in volumes of of been were offset well credit income XXXX industry no repair also saw partially from originally as by forecasted. protection We in an mobile insurance continued smartphones longer as see activity. increase We business. new growth the trade-in expect as sales lighter to quarter the to declines lower due from first from have logistics in and Results vehicle lower than
from mobile including end also programs, key offset a was $XX large client. change were the mainly X% excludes program are million Turning XXXX subscribers, premiums for contract the to earlier. lower as This newly revenue, well. net structure launched performing by up trade-in Vehicle fees were increased was activity, at noted quarter. driver. or of Growth made partially a protection Results service in a earned and which mobile
earnings points combined with segment's aligned in from the pre-tax XX%, up the in risk-based for fourth some basis for with Looking income both was are results in operating period. increased ratio X.X% businesses the X.X% one-time from metrics, the capital-light our prior quarter to fee-based, approximately The In Global up overall including The for at Lifestyle drivers up net profitability businesses the XXXX. XX.X%, margin fourth summary, we the quarter, the XXXX quarter benefits. for metrics pleased quarter. commentary with XX
increase tax be more anticipated This So, Lifestyle's the while earnings is we underlying from expect reform. increase savings XXXX, Global modest. to all before to is in considering
new XXXX. will Throughout XXXX, introductions, on expect Mobile should reflecting rate from of depend in we prior partnerships. XX% availability the investments mobile, continue also phone phones, to however, and runoff continued activity. anticipate as carrier activity will up periods in begin implemented to protection in growth XXXX. earnings of lower sales growth, and programs mobile strong during these growth effective substantially to insurance, in vehicle our factoring We Global the After tax discontinued of support summary including earn. profitable Lifestyle earnings Credit trade-in success promotional be business, business roughly and decline, more reported
and actively harsh to million. increase clients by a This it operating reflect offerings. more lower product result in decreased primarily effective to as rate of net to Global from was will increase $X.X product impact Preneed. quarter driven periods. the also tax monitoring up income mortality decrease million flu first Revenue of modestly, with charge strong million to to roughly earnings Sales reductions. results business. fourth a sales of the a In of net in year-over-year, million, new in Preneed fourth lower Global elevated lower quarter. Need our overall and and million Corporate, operating sales portion related Face The to lower to $XX At quarter, seasonality. we by Next, We're and segment expansion $X.X in let's Final sales this prior Need an revenue investment the this Preneed due adjacent holidays. X%, was expect X%, in of U.S. the from $X tend reinvested loss the savings due sales be in season a income, up existing due Final to driven and move XXXX, segment a primarily workforce in $X.X and recorded growth in leading XX% in in particularly Preneed to mainly the Canada continue write-down. million the $X software was of asset may
reinvestments, level XXXX, net and level into we with the to net to we of around increase the million $XX Corporate loss $XX XXXX. expect of full loss some After million. tax operating approximately taking XX% expect reported For be in the lower account to loss rate
the dividends This lower than segment deferred the was in capital Turning tax Preneed million company the the the $XXX our about for year million. buffer the tax a of or Global asset with due and to Housing, total total Lifestyle adjusting deployable mostly of bringing million. year quarter, write-down $XXX million risk million to of capital million $XXX capital, following in the for of ended holding fourth to Dividends $XXX statutory quarter, we to earnings, company enactment of $XX fourth from $XXX totaled reform.
In addition, dividends Benefits distributed $XX of businesses. to million continue residual release we with from Assurant as associated Employee and these capital were Health
had distributed now material therefore capital and any dividends. all nearly anticipate that have additional supported not businesses, the previously do We these
financing support on of our The results in Group. an to and XXXX. invest with aside at planning our close quarter including market integration. preliminary Group's activity share We're investment week, plan the Last subject our full Warranty track and expected buyback we funds also Group in conditions integration reviewed complete year. efforts to million an setting During hard expect Iké the of price the we in And, work operating regulatory will are second to Warranty be The and on always, shares for XXXX $XX.XX. least repurchased from capital the We average to well as $XXX quarter, believe operating the earnings. have provide flexibility to since return and impact this capital agency shareholder $XX as dividends We This million reform. of is of requirements, share also segments rating completed ongoing In subject billion customary dividends. $X.X we at and will be segment now equal as Warranty paid to for our at tax of XXXX, businesses, The overall that
process finished expectations. and line strong completed, year yet While their not the is in results with for our close
to results update earlier, call remain that, Warranty related we pleased a operator, Group we please in The provide profitable to our the questions. growth noted needed, reflect prospects. excited strong XXXX our for financing foundation conclusion, with solid to In as for And, As which future open we are provide outlook, acquisition plan. about plan and our with and XXXX Alan
